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Business Events Layoffs

  • FRANKFURT, Oct 27- Deutsche Bank chief John Cryan pledged to redouble restructuring efforts on Thursday, warning that it faces tough times finalising talks with U.S. justice authorities over a multi billion dollar fine. Germany's biggest lender earlier posted an unexpected quarterly profit, benefiting from a modest rebound in bond trading, but failed to...

  • NAIROBI, Oct 26- Kenya Airways needs to extend debt repayments and make other changes to restructure its balance sheet, which would take priority over finding a strategic partner, the new chairman of the loss-making airline told Reuters. The appointment of veteran telecoms executive Michael Joseph as chairman has also lifted sentiment.

  • The world's largest construction and mining equipment maker posted a third-quarter profit of $283 million, or 48 cents per share, down from a revised $559 million, or 94 cents per share, a year earlier. Excluding restructuring costs, earnings per share came to 85 cents, exceeding analysts' estimates of 76 cents. Revenue fell to $9.2 billion from about $11 billion.

  • Caterpillar reported a third-quarter profit of $283 million, or 48 cents per share, down from a revised $559 million, or 94 cents per share, a year earlier. Excluding restructuring costs, earnings per share came to 85 cents, exceeding analysts' estimates of 76 cents. Revenue fell to $9.2 billion from about $11 billion.

  • Twitter may soon cut hundreds of jobs

    Bloomberg says the social media company could trim as many as 300 positions.

  • *Approval will avoid Spain's biggest ever bankruptcy. MADRID, Oct 25- Renewable energy firm Abengoa is on track for the 75 percent creditor approval needed for its restructuring plan and avoid filing for Spain's biggest ever bankruptcy, a source with knowledge of the deal said on Tuesday. Abengoa's creditors include Spain's Santander and Caixabank,...

  • Twitter could cut as many as 300 jobs, or about 8 percent of its workforce, as soon as this week, Bloomberg has reported.

  • TWITTER PLANS HUNDREDS MORE JOB CUTS SOON - BLOOMBERG.

  • Oct 24- Goldman Sachs Group Inc will lay off 20 employees in New York, according to a filing by the bank with the state's Department of Labor.

  • LONDON, Oct 24- British broadcaster ITV will cut 120 jobs as part of a programme set out earlier this year to reduce costs by 25 million pounds to counter the uncertainty created by the Brexit vote. The job cuts amount to 2 percent of ITV's workforce of 6,000, of which 3,000 are British-based staff, and would be spread across the business. ITV plans to cut costs by 25...

  • MONTREAL, Oct 21- Bombardier Inc said on Friday it would cut 7,500 jobs, mostly in its train-making division, in a second round of layoffs announced this year, following extended delays and budget overruns in its aerospace business. The unit, with a large staff in Europe, has struggled to deliver on some high-profile public transit contracts, including in Toronto.

  • MONTREAL, Oct 21- Bombardier Inc said on Friday it would cut 7,500 jobs, mostly in its train-making division, in a second round of layoffs announced this year, following extended delays and budget overruns in its aerospace business. The unit, with a large staff in Europe, has struggled to deliver on some high-profile public transit contracts, including in Toronto.

  • Bombardier to shed 7,500 jobs through 2018

    The Canadian plane and train maker announces more job cuts for a leaner, stronger company.

  • The Montreal- based company, which has struggled in recent years with cost overruns in its aerospace unit, said on Friday it will cut about 7,500 jobs globally with about two-thirds of those in Bombardier Transportation. It said restructuring charges of $225 million to $275 million will be accrued as special items, beginning in the fourth quarter and through...

  • SAN FRANCISCO/ BOSTON, Oct 21- The apparent lack of interest in Twitter Inc by potential suitors may force the social media company to consider a route anathema to aspiring tech startups: a major restructuring and cutting some its nearly 4,000 employees. "It's going to take some bold moves here," said David Hsu, a management professor at the University of...

  • TORONTO, Oct 20- Postmedia Network Canada Corp, one of the country's biggest newspaper publishers, reported a wider loss and a 13 percent fall in fourth-quarter revenue on Thursday, as slower print sales outpaced its savings from cost cuts. Postmedia said it had a net loss of C $99.4 million in the three months to the end of August, compared to a loss of C $54.1 million...

  • CALGARY, Alberta, Oct 19- Enbridge Inc, Canada's largest pipeline company, is laying off 5 percent of its work force after an organizational review, a spokeswoman said on Wednesday. The cuts will total 530 people, affecting 370 positions in Canada and 160 in the United States. Last November, Enbridge cut 5 percent of its workforce, which at the time represented about...

  • CALGARY, Alberta, Oct 19- Enbridge Inc, Canada's largest pipeline company, is laying off 5 percent of its work force after an organizational review, a spokeswoman said on Wednesday. The cuts will total 530 people, affecting 370 positions in Canada and 160 in the United States. Calgary- based Enbridge launched the review in the first quarter, spokeswoman Suzanne...

  • Oct 18- Harley-Davidson Inc said on a conference call on Tuesday it laid off "casual," or temporary hourly wage workers, during layoffs announced last quarter. Harley-Davidson said it plans to reorganize and reduce its workforce to streamline functions and become a more agile manufacturer. The reductions will cost the company $20 million to $25 million.

  • Oct 18- Harley-Davidson Inc said on a conference call on Tuesday it would lay off "casual workers," or temporary hourly wage workers, first as a part of the company's newly annouced reorganization plan. Harley-Davidson said it plans to reorganize and reduce its workforce to streamline functions and become a more agile manufacturer. The reductions will cost the...